Sensorion (ALSEN) H1 2024 earnings summary

Executive summary

• Achieved key milestones in gene therapy and small molecule programs, including first patient treated in SENS-501 Audiogene study and positive efficacy data for SENS-401 in cochlear implantation.

• Cash position strengthened to €87.3m, supporting operations into end of 2025.

• Two private placements in February and April 2024 raised over €65m from specialist healthcare investors.

Financial highlights

• Cash & cash equivalents at €87.3m as of June 30, 2024, up from €37.0m at December 31, 2023.

• R&D expenses rose 19% year-over-year to €14.7m, mainly due to gene therapy program expansion.

• G&A expenses increased to €3.8m from €2.6m year-over-year.

• Net loss widened to €13.9m for H1 2024, compared to €12.3m in H1 2023.

Outlook and guidance

• Operations funded through end of 2025 based on current cash and forecasted expenses.

• Key clinical data readouts and milestones expected in September 2024, including SENS-401 and SENS-501 updates.

• GJB2-GT clinical trial application submission planned for H2 2025.